Compare free basic bank accounts (Fee-free)
Discover what a basic bank account is and how they compare to other types of bank accounts.
Basic bank accounts help those with poor credit scores get a bank account. Basic bank accounts are what they say they are. They come with no strings attached, frills or anything else you would associate with a standard current account. You put your money in and you take it out. They are often fee-free.
Compare basic bank accounts
What is a basic bank account?
Basic bank accounts are accounts that are stripped of all features. These are made available to customers with poor credit scores.
With these accounts, you will still be able to set up direct debits and standing orders. In most cases, you’ll also be given a debit card and access to online and telephone banking.
There are no monthly fees with these accounts. However, you shouldn’t expect to earn interest on credit balances, receive an overdraft or be able to take advantage of any add-ons or cashback features.
Who can open a basic bank account?
The main selling point of basic bank accounts is that they have wider eligibility criteria. If you are a UK resident, you should be able to open one of these accounts.
Requirements to open a basic bank account
In most cases, you can open a basic bank account with proof of ID and proof of address. You’ll need to be at least 16 years old.
In some cases, you won’t need to pass a credit check to open an account. Even if you do, those with low credit scores are still likely to pass.
How to manage a basic bank account
Most basic bank accounts come with a debit card and online banking, just like regular bank accounts.
Pros and cons
- Relaxed eligibility criteria.
- Debit cards and online banking are usually available.
- All features and perks are stripped back.
The bottom line
Basic bank accounts are not as good as regular bank accounts. However, these can be a life-saver for those who get rejected for any other type of account due to a poor credit score.
Once you have started to fix your credit score, it is recommended to switch from a basic account to a regular bank account, so you can take advantage of the extra features available.
Frequently asked questions
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